LAHORE: Atlas Honda Limited has posted 28 percent increase in full-year net profit amid an increase in the sales.
In its financial results issued to the Pakistan Stock Exchange (PSX), the company reported a net profit of Rs3 billion for the year ended March 31 against Rs2.35 billion in the previous year.
The company posted earnings per share (EPS) of Rs29.03/share as compared to Rs22.73 in the same period of the last year. During the period under review, net sales of HCAR increased 20 percent to Rs55.02 billion as compared to the last year’s net sales of Rs45.77 billion.
The cost of sales also increased to Rs49.37 billion against Rs41.09 billion last year. HCAR has posted a gross profit of Rs5.64 billion as compared to Rs4.67 billion during the same period of the last year. Other income of the company rose to Rs637.07 million as compared to Rs543.92 million in the previous year.
Meanwhile, Kohat Cement Company Limited (KOHC), the second biggest white cement manufacturer in the country, on Friday announced a 49 percent increase in the nine months net profits, amid an increase in the sales.
In its financial results issued to the Pakistan Stock Exchange (PSX), the company reported a net profit of Rs3.32 billion for the period ended March 31 against Rs2.23 billion in the previous year.
The company posted earnings per share (EPS) of Rs21.53/share as compared to Rs14.44 in the same period of the last year.
During the period under review, the net sales of the Kohat Cement Company Limited increased 23 percent to Rs10.78 billion as compared to the last year’s net sales of Rs8.79 billion. The cost of sales was recorded at Rs5.85 billion against Rs5.67 billion last year.
Kohat Cement Company Limited posted a gross profit of Rs4.92 billion as compared to Rs3.11 billion during the same period of the last year. Other income of the company rose to Rs377.81 million as compared to Rs364.68 million in the previous year.
For the quarter ended March 31, Kohat Cement Company Limited (KOHC) earned Rs1.22 billion net profit as compared to Rs865.62 million in the previous year.
The directors of the company in the financial statement said the healthy profitability is mainly due to unprecedented growth in sales volumes and reduction in the international coal prices and further cheap electricity generation from the company’s captive power plant.
During the nine months period, local dispatches of cement in Pakistan were 23.94 million tons against 20.34 million tons in 2015, registering a growth of 17.69 percent, while exports reduced to 4.40 million tons, down 19.02 percent as compared to 5.44 tons of 2015.
Overall growth in sales volume in the country for the nine months ended March 31 has been recorded at 9.95 percent. Kohat Cement Company Limited dispatched 1.60 million tons cement during this period, up 23.47 percent as compared to the same period of the last year.
